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20121201
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CNBC
Dec 21, 2012 3:00pm EST
. we're not closer to a deal in washington today. you can tell from the sell-off, investors do not like it. >> no, posting their largest decline since november 14th, in case you were wondering. although we are off the lows of the session right now. the dow was down 189 two hours into the trading session. we've come off those lows. but at this point, the dow is down 1% for the week and we are down 1% today at 13,173. nasdaq lower, as well. let's see how many percentage points we're down right now. down 1.25%. the technology sector is taking a bigger hit today. down to 3,012 on the nasdaq and the s&p 500 index is down 1% at 1428. . >> house speaker john boehner says he's still open to a offer from the democrats. >> it was a dramatic evening last night. john harwood was there. he has the latest on the on talks. are there any talks, john? >> i think so. but they're pretty muted. this bill was not win of those weeks that makes washington look good. come to think of it, there aren't many weeks that make washington look good. but this was especially especially difficult because you had ne
CNBC
Dec 11, 2012 3:00pm EST
minutes ago out of washington does not really help the situation. >> so what's the strategy, jonathan? what's the strategy given the comments that we just heard. >> not knowing what taxes will be like next year, i agree with what you said before earlier. you have to take some of the profits off the table, pear down some of your risk and exposure and hold on to ones that you think in the locker term will have performing gains. >> joining us late, the comments we're talking about came from senate majority leader harry reid who said he does not expect a deal before christmas, and he also said if the republicans are expecting the democrats to come up with a list of spending cuts they want, it's not going to happen. they are expecting the republicans to come forward with that first. those are the comments that we've been talking about. carol roth, you're the one that's been identifying those financial planners who are telling their clients sell those winners, and to hang on to the losers here. >> right. this is completely backwards to what they would normally be advising their clients. i'm
CNBC
Dec 14, 2012 3:00pm EST
washington with some more details on what we know right now. john? >> reporter: well, bill, the horror of this tragedy is also muted talk of anything else in washington for the day, including the fiscal cliff and all the issues that we've been discussing for some time now, but one of the jobs of a president is to console victims and to console the nation at a time of grief of this magnitude, so we're going to hear from the president at 3:15. jay carney earlier saying he wasn't going to discuss issues like gun control. it wasn't a day for politics. it's a day to focus on the victims of the tragedy, so you can expect the president is going to focus his remarks on the victims and what happened in connecticut and the attempt to figure out how it happened, why it happened. we'll hear from him at 3:15, and we're going to bring that to you, and we'll talk about it afterwards. >> all right, john, thank you very much. of course, we often talk about how the markets are a mood reflector, and if that's the case, we very much see a market that is subdued today by all of this news. right now the dow
CNBC
Dec 24, 2012 12:00pm EST
in early january. >> you are on hold until you can see the whites of their ey in washington. right? i mean, you're waiting to see what happens with this fiscal cliff? >> i am. i tell you, i think that the christmas gift people are getting right now is to sell above 13,000. we were surprised we're not getting a deal. i'm surprised the market's as firm as it is and it is very easy to overthink this. well, must be firm. the bulls are strong. hey, we go higher. i think that's not the read at all. i think the initial reaction we got when they sent the house of representatives home on thursday night is what we're going to see when they don't get a deal done to the end of the year. i think there is no way. >> you think the market has it wrong here by being this high. >> i do. i think ultimately we're being tropical depression up by the 90 billion a month in fed liquidity but i think that comes home to roost probably as we get closer to the end of the year. the only way we have a shot to get a deal at the end of the year or maybe even early in january is if we have market pressure. right n
CNBC
Dec 7, 2012 3:00pm EST
progress in washington on the fiscal cliff. the nasdaq continues to be dragged down by apple. >> apple's had a tough week. we'll get into that coming up. we're still looking for a deal on capitol hill, surprise, surprise. all to keep us from going over the fiscal cliff. just in case, though, we've got some experts on happened to help you protect your money. here's how we stand right now, though. it's been a generally positive day for some of the blue chip averages. the dow among them. up 57 points right now, near the highs of the session at 13,003 and change. the nasdaq continues lower. you can blame apple. technology suffering as a result today, down 12 points right now at 2977. the s&p is up 2.25 points at 1416. with less than an hour to go in the trading week, another week without a deal to avoid going over the fiscal cliff. while today's positive jobs report did give markets a boost early on, it wasn't enough to get a significant rally going and to continue it on. so what's it going to take to get some conviction back in this market? >> that's in today's "closing bell" exchange. gent
CNBC
Dec 31, 2012 3:00pm EST
, based on what we know right now about the various details of what they're talking about in washington, you've liked stocks anyway. is this framework they're talking about a green light to buy stocks for you? >> it is. yes. we were pretty optimistic going into 2013. this just improves the outlook. >> in what way? how? >> well, i think some finality around where taxes are going to be is going to be very, very helpful. we can manage around the different tax rates in terms of capital gains issues and whatnot within portfolio locations. so knowing what those rates are going to be in managing around that will be helpful. stocks right now attractive from a valuation standpoint. i think it'll be a good 2013. >> brad fredelander, you have been skeptical of the market. does this deal help, do you think? >> well, it's certainly good news. i think -- i do have some concern that the market es at this point are in more fiscal harmony than the discord we've been seeing. we still have within six to eight weeks the debt limit issues as well. so i think there are going to be some hurdles early in the y
CNBC
Dec 4, 2012 3:00pm EST
markets giving washington the benefit of the doubt so far today. we've had no real progress to speak of on the fiscal cliff. the president did speak publicly about it today. but we haven't exactly taken any step backwards either on wall street as far as the major averages go. we have had more special dividends declared, which we'll get to. first, get you caught up on the markets. kind of a meandering day. a few economic bits of data out today. other than that, not a lot going on as far as economic data go. we're all just waiting to see that white puff of smoke come out of washington and nothing yet so far. the dow virtually unchanged right now at 12,966. the nasdaq is down seven points right now. we'll talk with seema mody about that. and the s&p 500 index at this hour is down 1.80 in change at 1407. in today's "closing bell" exchange, we go over what is going on as we head toward the end of the year. seema mody is at the nasdaq today. jeff, what do you make of what's going on in washington? i'm most interested in the fact that the markets have lost the volatili volatility. we're not se
CNBC
Dec 5, 2012 3:00pm EST
way on hopes of a compromise on the fiscal cliff stalemate in washington. eamon javers standing by in a moment with information on a bipartisan letter from lawmakers that's. putting tax hikes and entitlement cuts firmly on the table. >> i'm bill griffeth. let's show you, and the charts tell the day's story, as it usually does. can you get when the president began speaking at business round table and we learned that at least 40 house republicans are breaking ranks to talk about anything, all possibilities as they said in an open letter. right now the dow is up 110, near the highs of the day. 13,062.59. the nasdaq is going the other direction. blame apple and overall technology having a tough day. down 13 points right now on the nasdaq at 2982. the s&p is holding with a gain of about five points. we'll have more on the markets in a moment. first, let's get to what's going on in washington. more republicans breaking ranks to join what we hope will be a bipartisan call for higher tax rates and entitlement cuts. eamon javers on capitol hill has the very latest details for us. eamon. >> rep
CNBC
Dec 19, 2012 3:00pm EST
. washington correspondent john harwood at the white house right now. john, perhaps no one has followed the twists and turns as much as you in all of these negotiations. why now does it feel like things are not in as good a place as we thought? >> because there's a lot of resistance within the republican caucus, maria, to the idea of raising taxes on anyone so that the concession that john boehner made toward the president, while it didn't go nearly as far as the president wanted, is one that's very difficult for him to maintain within his caucus. we've heard the club for growth come out this afternoon and owe poets speaker's plan "b" even though the grover norquist group, american for tax reform, says it's not an increase, but that balancing act is making it difficult for john boehner to respond to the offer the president laid down so he walked away, said that the president's offer was not balanced, didn't have enough spending cuts, and the president in trying to drive home the case that the speaker needs to cooperate with him and compromise with him, came out today and said he's going
CNBC
Dec 12, 2012 3:00pm EST
cliff, and what do you make of the recent complacency? is there a wall street/washington disconnect? >> interesting question. well, i certainly hope that markets won't have to tank. i don't -- we want to have confidence, not just in markets but in businesses and households as well, and the best way the fiscal policy-makers can achieve that is by coming to a solution as quickly as possible. markets have obviously already responded to some extent, up and down. can you see from day to day how they respond to news about the negotiations. but, on the other hand, it's also true, if you look at experience, i think very informative experience of the debt limit debate in august of 2011, that both confidence and markets remain pretty sanguine up to pretty close to the point where it looked like there was actually a chance tat debt limit would not be raised. and then, of course, there was a pretty sharp shock particularly to confidence about the time of the -- you know, of the final debates so it's not unusual to see markets being complacent. of course, there's -- from the market point of view
CNBC
Dec 13, 2012 3:00pm EST
words out of washington, here we go again, from either the fed or congress. >> right, and frankly that's very expected. there's going to be a -- some grandstanding about your political philosophies right up until the end, but the way i view this is we will not and cannot go over the fiscal cliff. >> you think the can will be kicked down the road. >> well, i think washington learned its lessons from the credit crisis. they are not going to have this go over the cliff, and i think it's going to be a recipe of a small part of cutting spending. a small part of raising taxes and a healthy doze of kicking the gan down the road. >> you would be so sure that these guys cannot do it when in fact here we are 18 days away. steve sax from your standpoint in, terms of etfs and in terms of indexing out there, how do you want to invest given all of these uncertainties as we approach year end? >> i'm in the camp i certainly hope we can avoid the fiscal cliff, but right now i don't have a lot of confidence. we're still seeing a lot of flows in several different areas. certainly domestic equities and emer
CNBC
Dec 28, 2012 3:00pm EST
the clock is ticking. all eyes are on the white house. we've got i'm an javers there in washington as we wait for the white puff of smoke to come out of the white house, eamon. >> reporter: kind of what feels like here, bill. a lot of energy at the white house, a lot of curiosity surrounding this meeting. what you can't see from here and what i can't show you, unfortunately, is just about 50 yards from here is where you saw speaker boehner walking into the building, and we've got a whole cadre of white house still press photographers up on ladders peering over the hedge trying to get a picture of the leaders as they walk in and just to the left of that crowd is another crowd of reporters all gathered around the stakeout cameras. that's where the leaders could come out and talk to microphones if they wanted to say anything after this meeting. there's a lot of anticipation of whether they will say anything after this meeting, and it's widely seen that this would be a good sign for negotiations if they do come out and talk. a lot of previous white house meetings, they have not come ou
CNBC
Dec 10, 2012 3:00pm EST
washington continues to look for some kind of a deal on the fiscal cliff. >> some kind being the operative words. hello everyone, again. maria is going to be back tomorrow but in the meantime you're stuck with me. let's see what the markets are up to today. the dow holding marginally above water. as for the nasdaq and the s&p, let's get a check on those two as well. they've been kind of positive today, but not superbly so. at least it is a positive start to the trading week. >> now, forget about the number of days -- shopping days until christmas. we're talking about 13 and a half trading days after today how to position your money ahead of what might or might not happen with the fiscal cliff deal. are we ready to go? let's find out how you should be investing. everybody's looking at me like i should not be saying something right now. okay. everybody's there. mandy? >> okay. joining us now we have a cast of thousands. dan mcmahon from raymond james. nathan backrat. and our very own rick santelli. thank you for joining us today. nathan, let's start with you. so 13 and a half tradi
CNBC
Dec 26, 2012 3:00pm EST
presents from lawmakers in washington yet. we're still five days away from falling off the proverbial fiscal cliff and wall street, like everybody else, is waiting for some kind of a solution here, and as you can see by today's numbers the waiting game continues, although we thank brian sullivan and you, mandy, for bringing us back to positive territory in the last hour. >> i'm not sure we can take credit but we'll take it. >> the dow is up a fraction at the moment. 13,139 after a meandering much of the day. the nasdaq hardest hit today. technology has been very volatile recently. still down a fraction right now. 13 points, fraction percentage-wise and the s&p is down 3.33 at 1423. five days left until the fiscal cliff deadline, and though the market has been very resilient to this point, what happens if we go over the cliff and if lawmakers cannot get it together come january 1st? will it be a big meltdown for wall street? that's what everybody wants to know. >> certainly hope know. in today's "closing bell" exchange, former chief economist of the vice president joe biden, oliver per
CNBC
Dec 17, 2012 3:00pm EST
higher by 11 points. >> the markets watching washington and shuttling back and forth between the white house and the capitol. eamon javers has the latest. >> it looks like at this point the senate is going to have to come back on december 26th to take up among other pieces of legislation the fiscal cliff solution. apparently. so whether or not that's set in stone, we don't know. but it looks like they're floating now the idea of coming back after christmas to finish up a fiscal cliff deal. and the evidence we're getting closer to the deal came today with speaker boehner going for another meeting with president barack obama. he did not answer reporters' questions. we don't know exactly what was said in that meeting, but we know boehner has proposed new tax revenue of up to $1 trillion and agreed to the idea of raising tax rates in order to do that including on those folks making more than a million dollars a year. at the white house jay carney was asked whether the president's going to stick to his $250,000 a year threshold for tax increases. carney kind of wiggled around that que
CNBC
Dec 18, 2012 3:00pm EST
bartiromo with the new york stock exchange. the more wall street washington is rising above, the higher the market goes. >> rejection of how john boehner's plan "b" thatty had came out with today. the major averages are all trading around two-month highs today because it seems like progress is still being made on some kind of a deal. here's where we stand right now. the dow up 98 points, was up 125 at the high, and then the white house rejected and some comments by senate majority leader harry reid on that so-called plan "b" proposal from john boehner, sort of took some of the wind out of the sails. nasdaq still up 1.25%, a 3348 and the s&p 500 index is up 12-plus points right now at 1443. >> while the dow on pace for the first back-to-back triple-digit gains in nearly five months. can we hold on for the final hour? >> let's talk about that in our closing bell exchange. carol roth, the author of "entrepreneurial equation" is with us. from chicago, keith springer from springer financial adviser and john carpina is on the floor with us, and rick santelli, of course, is in chicago a
CNBC
Dec 3, 2012 3:00pm EST
washington. now this offer being extended from the republicans. you can assume that the white house will not think this is enough tax revenue to go forward, but, of course, offers are being exchanged here so that's a sign negotiations are under way, guys. >> let's get into the details here. $600 billion in health savings. what does that mean for medicare? break it down in terms of where these savings come from. >> i wish i could. what we don't have here is a lot of detail hanging off this christmas tree at this point. we're looking at a couple of bullet points being released now in terms of the scale of the deal. it gives us overall broad numbers. presumably negotiators would have to go in and fill in details of how they're get that kind of savings. there have been a lot of proposals on health of finding billions of dollars of savings by reducing overhead and other things like that. you've seen the unions come out and say they don't want to see any changes at all that would hurt payoffs to beneficiaries in terms of health care. that would be one of the sticking points between republicans
CNBC
Dec 20, 2012 3:00pm EST
washington, scott? >> we should. let's take a live look at capitol hill where the house of representatives is preparing to vote on speaker paperer's plan "b" budget proposal. our other big story. does it have a chance of passing the senate before the deadline? we'll talk to senator ben cardin next. >> transformed indiana's budget deficit into a surplus of around $500 million. governor mish danneels explains what congress need to do to overcome the nation's debt crisis. >> and coming up, is the sky the limit now that they have sold their shares the? more later on the "closing bell." >>> welcome back. here's a live picture of the house. the house hours away from voting on speaker painer's proposal to extend tax cuts for those making less than $1 million a year. we're waiting on this bill to pass the house, and it's probably dead on arrival in the senate. scott? >> another vote that you are watching go through a bunch of procedural things as well. i heard 7:00 to 8:00 tonight maybe is when they would vote on this plan "b" from the speaker. meantime, the president has already threatened to vet
CNBC
Dec 27, 2012 3:00pm EST
. >> jared, you know washington very, very well. we've been trying to read the tea leaves today. harry reid was out with a twitter -- a tweet early on, and then they were scheduling a news conference that. got cancelled. it got moved. now suddenly we're hearing that the house is he convening. what do you make of all the tea leaves we're reading right now? >> it's extremely chaotic and reminds me of the arguments between my two young daughters as to who is going to empty the dishwasher, except there's 500 billion in negative fiscal impulse in play here. i thought lee put it very well. the issue at this point, seems to me, i mean, it ain't over till we're over, but it seems to me is this going to be a chaotic cliff dive or more of a bungee jump wherein there does seem to be the makings of a deal. as i've described on our show before, there are technical matters that actually make it easier for republicans to support a compromise deal like the president's last offer after we go over. >> wait a minute. you don't necessarily see any of the developments today as progress per se? >> no, i don't. i
CNBC
Dec 6, 2012 3:00pm EST
. that's what's potentially on the market, if we don't make a deal in washington. >> scott, let me ask you again how you want to allocate capital then in that environment. i know george young is with us again, joining the conversation. i want to ask you the same question. go ahead, scott. how are you investing right now? >> maria, i think the best way forward is the way it's worked since the bottom of the market in 2009. risk assets are where it's at. the fed is very supportive. the consumer is back and engaged. housing is getting better. the fiscal cliff is actually constructive from the standpoint it causes people to come together and compromise because going over the cliff while we may do it for a short time period is not beneficial to anybody. it hurts everybody. >> so risk assets being, what, technology? what does that mean, technology? >> not necessarily. we would stay with dividend payers. we would also dip our toe into europe into some very high-quality, multicountry stocks there. mostly on consumer discretionary stocks as well. >> george, we haven't forgotten you yet. scott, i hav
FOX Business
Dec 10, 2012 3:00pm EST
think washington has to fix this. liz: the stock is going in the right direction. 22% since the last time you were here in september. thank you so much. happy holidays. ethan allen chairman and ceo and president and of course the dow jones industrials fourth session in a row with 27 minutes to go. can we hold onto these games? so much to come. there is no mass-produced hun. every human being unique. and there is one sre that recognizes it. the sleep nuer store. the only place in the world you'll find the extraordinarily comfortable sleep number experience. an exclusive collection of innotions that totally individualize your sleep. perfectly comfortable pillows that adjust to temperature-balancing bedding. dual warmth comforters. all designed around the sleep number bed: a bed with dual-air technology that allows you to adjus to the support your body needs. each of yourodies. in the name of human individuality: the sleep number collection. discover how our sleep professionals can individualize yo sleep experience. clusively at one of our 400 sleep number stores nationwide. sleep numbe
FOX Business
Dec 21, 2012 3:00pm EST
on this friday. thank you for joining me. the logjam in washington dc. the perception is one step closer to tottering over the fiscal cliff after john boehner failed to rally his troops. canceling the vote on plan b last night, and harry reid making a speech. let's take a look at where we stand with the dow jones industrial down 138 points. we have been down more than 189 points earlier. don't even imagine last night when neil cavuto is like looking at futures, which was plummeting. if it is not as bad as it could've been. but the market is terrible. as we look at what we call the hot button here. we have bank of america and caterpillar. all of that pales in comparison with research in motion. the stock getting taken out to the woodshed. the services business is about 30% of revenue. to be pretty clear about this, research in motion change the pricing model for 2013, and the impression is it the thumbs down. totally different story for investors. the software maker jumping about 4.5% here. better than expected third-quarter numbers. prescription revenues are up year-over-year. we
CNBC
Dec 3, 2012 4:00pm EST
. another reason why the folks in washington should keep on talking. >> really interesting stuff. so, while we have you, robert, let's talk about what we learned on oracle, announcing plans to pay out second quarter, third quarter and fourth quarter dividends this month. what is ceo larry ellison's cut on this? is it $199 million as reported a minute ago? >> it sounds like it's around $200 million. you had that great interview with him where he's talking about his dream of buying the lakers. this might help him do that. $200 million. his tax savings alone on this, if dividends are now at 15% and they go up to over 43%, his tax savings alone, just by doing it this year, over $60 million just on the tax savings. this does make sense for those really big shareholders like larry ellison. >> you know, he's the ceo of the company. so, you know, we could look at him and say, okay, well, he's saving all this money but the savings ripple through, right? >> absolutely. >> if you're a shareholder you're saving a huge amount of money, particularly if the dividend goes to 44%. >> absolutely. his
CNBC
Dec 26, 2012 4:00pm EST
cliff and while there's no deal, more news out of washington and our very own john harwood is there. >> reporter: mandy, we've got a letter from the republican leadership to the president and to the democrats in the senate saying that the house has acted, they passed legislation last year to extend all the tax cuts and to shift the scheduled sequester cuts from defense to domestic programs, but, of course, in urging the senate to act saying, well, we've acted, now it's your turn, we're simply not going to see the democrats take them up on that because president obama since that letter has won the election and now we're looking at the possibility of a mini deal that would get enacted before january 1st but so far all we've heard are the sounds of silence in the negotiations. a senior white house official told me today when i asked was there any holiday season progress, back channel progress over the past couple of days, got a one-word reply, no. second, the democratic senate leadership says there's a 50/50 chance that we'd get a deal between now and january 1st, but they don't have a
CNBC
Dec 19, 2012 4:00pm EST
deal on the fiscal cliff in washington and stocks sold out. nasdaq composite off a third of a percent and the s&p 500 down 11 points, and the countdown continues. only seven trading days left until the fiscal cliff dead livent was today the beginning of a bigger selloff if a deal does not come soon? joining me right now is a cnbc contributor from western destination and steven hammers from the emp fund and our own rick santelli and joe greco from meridian equity partners finishing up his trades and will join us momentarily. good to see everybody. michael, let me kick it off with you. i know it's really hard to navigate every day because every day there's a new expectation in the market, but it felt like today was about the fiscal cliff. if we go over the fiscal cliff with no deal, is that a significant issue for the markets early january? >> if we go over the fiscal cliff without a deal, we're probably looking at a 6%, 7% correction and then in my view you load up on equities. you know, maria, we're starting to put a little bit of risk on. never took risk off. not one of the believers
FOX Business
Dec 4, 2012 3:00pm EST
people in washington understand is if all that is done is a cost shifting from the federal government to the state, it doesn't accomplish much because states are not in a position to pick up the extra costs. >> speaking as governor of the stage we execute. we have to get things done. unfortunately congress doesn't. they can throw rocks at each other and leave it for another day and kick the can down the road. governors have to get things done today. we would hope congress will watch the governor's listen to the states. i think we can help him find compromise. liz: governor mark l. will be on neil cavuto tonight at 8:00 p.m. eastern. you cannot miss that interview. see what he has to say about today's trip to the white house. he does amazing interviews with these governors. you got to hear what he has to say. the fear of falling over the cliff real if you with a look at the chart of the fear index, you might not think so at all. it is incredibly low but market players and insiders are already making trades in advance of something aaron next guest says is about to get to the mix. let's
FOX Business
Dec 18, 2012 3:00pm EST
washington as secretary of commerce, but he also turned around it publicly traded qaeda -- iconic company. the shares of kellog moved around. now is moved to banking. he is joining me now on the first on fox business interview, and i want to let our viewers know the genesis of this. i ran into you in washington d.c. at the airport just a week and have caught two weeks ago. asset to me you have to come on the show because i thought your opinions are very interesting. right now, let's work with the news that we have today. john boehner saying 1 million, that is what people should have expiration on the tax threshold. the president moving from to 50 the possibly 400,000. will we have a deal? >> i think so. my opinion is that if we have to go over the fiscal cliff to get a good deal, we might as well bite the bullet now. do it now, and fro and the debt ceiling. it is a big -- liz: throw in the debt ceiling, you mean the republicans should use that in their back pocket? >> absolutely. it is to no one's benefit to have a debate in march about the creditworthiness of the u.s. once again,
CNBC
Dec 17, 2012 4:00pm EST
especially when there's so much disorganization in washington, there's no reason for the client to get involved. but when you add other taxes now, not just cap gains taxes and so on, now you're talking about high income cities like new york. you're talking about 53% plus another 3.8% with the obama care medicare surtax. >> so 53 -- 57% of the wealthiest out there -- 57% of their income is going to the government. then ron, you also agree even with that the habits are unlikely to change. >> well, that all depends. someone making a million dollars, $100,000 from dividend, 85 from capital gains. under the 250 rule, they're seeing their taxes go up $70,000 or so. under the million dollar proposal by boehner, that's a $30,000 increase. $30,000 is not that much. but it is after tax money. 70,000 is another number. i think it will affect them somewhat. i'm more worried about their future of what they'll not be saving. even the wealthy have to worry about the future. >> so how does it impact spending and give us the ripple effects of these higher tax rates and how that ripples down. >> you
CNBC
Dec 6, 2012 4:00pm EST
, and he tells me washington needs to resolve this fiscal cliff issue if they don't want consumers to stop their spending ways. >> let me start with what's going on in washington. we've got this negotiation for the fiscal cliff. if we go over the fiscal cliff, what is the impact to your business? >> well, there would be an impact on consumption, for sure. so when it comes to puma or mainstream brands in america in sports, there will be a for sure some consequences in terms of consumption. but i see that as an investment for the future. so it might be a little bit different from some of other ceos. we have to get over the fiscal cliff. let's not delay the thing. it needs efforts. let's make them short for a better future. i think we should be ready as a corporation, being ready for maybe a year of difficult market, difficult situation in the market because that is a ceiling on our growth in terms of economical growth as to be released. it's really me an investment for the future. >> you're seeing a similar situation in france where we're talking about the possibility of capital gain
FOX Business
Dec 12, 2012 3:00pm EST
the fiscal cliff and what you make of their recent complacency? is there a wall street washington disconnect? >> interesting question. i certainly hope markets will have to tank. i certainly -- we want to have confidence not just in markets but businesses and households as well and the best way, for fiscal policymakers can achieve that is by coming to a solution as quickly as possible. markets have already responded to some extent the band down. you see from day to day how they respond to news about negotiations. on the other hand it is also true, if you look at the experience, very informative experience of the debt limit debate in august of 2011, both confidence and markets remain pretty sanguine, of to pretty close to the point that it looked like there was a chance the debt limit would not be raised. and then, of course, there was a shark shark particularly to confidence about the time of the final debates. it is not unusual to see markets being complacent. of course, there is market point of view, risks in both directions, hings go badly but perhaps if things go well, that wo
FOX Business
Dec 6, 2012 3:00pm EST
large concerned given the situation in washington a little bit of optimism over taking the picture. let's look at the dow 30, intel at the top. paul otellini said the new intel chief would most likely come from inside the company. intel up nearly 2%. that has always been the way at intel. they promote from within so clearly investors like that. cisco another decent name up 1%. no real news other than bargain hunting. we have amex and united health as the weak links. central-bank president mario draghi put it damper on what could have been a strong rally saying weakness in the euro zone is expected to continue for a while. it has been going on for quite some time. don't know why that is a surprise to the market. that means for the next couple years would central-bank is also cutting their 2013 forecasts for the region. the wild swings in apple just over the past couple days, yesterday apple tanked suffering its worst day in four years. today a tiny bit of a reprieve from the selling. noticed a sharp reversal at 10:00 this morning. buyers stepping in, all kinds of sound bites from ti
CNBC
Dec 14, 2012 4:00pm EST
is going to be a positive conclusion in washington. the downside is not if there is not a vote to settle it. >> thank you, guys. see you later. have a good weekend. that's the first hour of the "closing bell" with the dow down 40 point. here's the second hour now with bartiromo. >>> hi, everybody. good afternoon. welcome to the "closing bell." i'm maria bartiromo. this market closing lower on this day of national tragedy. we'll have the late on the senseless school shooting in connecticut in just a moment for you, but, first, take a look at how we're finishing the day on wall street. declines on the market. once again worries about the fiscal cliff going into year end. the dow jones industrial average down about 33 points on the session at 13,137. volume really stopped in the middle of the day. we saw things slow down quite a bit on the heels of the awful shooting and fatalities in connecticut. the nasdaq and s&p 500 also under pressure today. the mood down here impacted by the awful events in connecticut with us is hank smith of haverford investments and maggie patel and rajai fr
FOX Business
Dec 26, 2012 3:00pm EST
christmas cheer thanks to the continued uncertainty of washington, no real progress on a debt deal. the house speaker stuck in a blizzard in ohio, but you know what? the dow managed to raise earlier, just up a hint now, just a touch. meanwhile, the nasdaq, the s&p500, and the russell, as you can see, down slightly on the day after christmas. retail stocks are casting a follow on the market, the s&p500, the high end end names, all in the red. we got coach, high end retailers such as tiffany moving lower, ralph lauren, urban jut fitters lower on poor data on sales this holiday season, and it's all due to the latest holiday spending figures that the stocks move lower. sales decreasing at a slow pace since the recession hit in 2008 according to the mastercard survey, the latest one. we'll pick apart the numbers later on in the show. hey, but check out crude oil, @ jumping today, up more than 2%, 3% on the day, near 91 bucks a barrel. first, there's optimism about a budget deal, perhaps in the next few days, optimism, isn't it, and supply concerns, iran is conducting naval test exercise
CNBC
Dec 27, 2012 4:00pm EST
said he was come back to washington and jumping on an airplane to review some new proposal from the president that they expected to get. the whole afternoon has been spent by reporters trying -- trying to figure out what was going on. now harry vaed responding to mcconnell so let's right to it. >> he's upset because, quote, the phone never rang. he complains i've not delivered solutions to the fiscal cliff. he's in error. we all know that in july of this year we passed in the senate the relief that would give -- that it would give to middle class americans. that -- that passed the senate. now, we know the republicans have buried themselves in procedural roadblocks in everything we're trying to do out here and now they are saying, well, we can't do the 250 because it wasn't blue slipped, because it will be blue slipped. mr. president, how does the american people retook the that? there was a bill introduced by the ranking member of the ways and means committee in the house, sandy levin, that called for this legislation. the speaker was going to bring it up to kill it, but he couldn't
CNBC
Dec 4, 2012 4:00pm EST
markets as we await any decisions out of washington. joining us right now, keith springer, abbigail doolittle, and our own bob posani. keith, let me get your take on the cliff here and on what's to happen in terms of the markets. do you expect the economy to go over the fiscal cliff? what kind of reaction might we see in the market if that were to materialize? >> well, if we saw the market sell off in a big way, i don't think anybody believes we're going to go over the fiscal cliff. there will be some sort of resolution. they'll come up with some tax cuts, some breaks in spending, and probably kick the can down the road on a lot of it. i love the way this market is acting. it's not selling off with all the bad news, all the bickering, all the bad words on each side. you've got to love the way that this market is holding up here. doesn't mean investors need to be carefree, but overall, it looks like the market is setting up with a lot of negative sentiment out there. looks like there's a lot of opportunity for a big run higher once we get some form of resolution. i really believe we'
CNBC
Dec 12, 2012 4:00pm EST
concerned that we're debasing our currency to a certain extent. washington has yet to revoke the laws of supply and demand, and we certainly have supplied the economy with a massive amount of liquidity with the same goods and services, the balance has to be priced, and a price situation is going to be higher levels of inflation and they are keeping rates down pretty much right now. >> yeah. >> we have a diminishing level of return, and that's what's happening. we're pushing rates down, but it's not having the impact. >> lower bang for your qe buck as steve liesman put it earlier on. >> thanks for joining us. always good to see you, eyore pento. >> putting fire into the conversation. >> thank you. >>> so much for the holiday cheer. with the rate things are going in washington, there will be plenty of holiday jeer between now and the new year. >> the president's called for $1.4 trillion worth of revenue. that cannot pass the house or the senate. >>> well, two former presidential candidates face off after the break. i feel like i'm going back to 2008 or 2004. steve forbes says no tax hik
CNBC
Dec 5, 2012 4:00pm EST
. i'll tell you what, maria, i'm not sure what's going on in washington. i'm not sure who those republicans are. i'm not so sure on whether the fiscal conservatives in the party know something about some big reforms on medicare and medica medicare, social security is, any of the retirement or tax issues, but i'll tell you this. i think that all these stories aren't necessarily going lead us to the truth. i personally have a very size way i'm approaching this. the president is supposed to leave for a 21-day vacation in hawaii on december 17th. where he is on december 18th will tell me, and i think the markets will pay attention. i find it hard to believe, and i agree with bill and many, who are very not amused by the house taking their long weekend. i'm sure that the president would have no intentions of leaving until these issues are resolved. i think the market is being kind, but i think it's a timing issue. >> yeah, i think that's a good point. somebody mentioned the other day that the president is planning a trip to hawaii on december 17th. i said, what? they said, no, no, no
FOX Business
Dec 14, 2012 3:00pm EST
rhetoric of washington does not help. we are going to see more of this as we go further into the ew year. liz: further into the new year. liz: we have to get to the new year. we are looking at the energy market. natural gas dropping to its three month low. very mild. looking at behind me in new york. what are we missing as a play, an investment like? are we in that very land and? >> we've been calling for lower natural gas. most of the profit is best. the sale at 380-385. right now it's an oversold market. 327 is the low. we hit it today anywhere between 327 and 330 i'm buying. and on the upside 342-345. i don't think we will see it again this year. liz: never again. >> okay. never again. liz: the collective commodities, the dollar, what the fed did. that seems like a million dollars to 5 million miles away. but in these next two weeks from a trader perspective. people just at the way or are they fully in because we don't have an answer? >> there will not be fully in. what we have right now, an argument between deflation and inflation. the numbers coming through, especially today. the fe
CNBC
Dec 7, 2012 4:00pm EST
, the dax or the cac. everybody is saying they'll compromise. one way or another, washington will compromise. >> you talking fundamentals here. >> we have to find out what the reason is it's going up. it has to be that. >> dan, are you ecstatic or more sober on what's happening? >> i'm a little more cautious. i totally agree with ralph that the market action today is terrific this year on bad news. i think the next six months are going to be very tricky. i think the fiscal cliff uncertainty is going to continue t actually. so i'm a little more bearish in the near term. then i think it's a sell-off, if there is one, that should be bought aggressively for a rally in the end of 2013 that would be the beginning of a new bull market. >> when you say a rally towards the end of next year, do you think over the course of 2013 it's going to end higher? we're going to be higher than where we are right now? >> yeah, i mean, i think ultimately 2013 ends up higher at the end. i think we're going to go -- we're going to test some lower resistance in the first six, seven months of the year. we h
CNBC
Dec 10, 2012 4:00pm EST
goi in washington. there are 535 people who have to think i want to keep my job. they'll decide to rise above. this is all going to be wonderful. in the meantime, if you're trying to figure out which way to go, i have traders out here who will tell you every day very difficult thing to do. >> isn't that the case. for sure. >> sandy, weigh in here. what would you be doing? >> actually i take a little bit different view. this fiscal cliff is a grander issue than just the united states. the drag in the u.s. is a big import to the rest of the world. stock markets are supposed to be leading economic indicators. if you look at the markets around the world from the last several weeks to months, the markets seem to be indicating just the opposite. they seem to be indicating that a deal will get done. what kind of deal whether it's one stage or two stage, nobody knows. but the fact of the matter is the equity markets tend to look three to six months out. they're giving good signs around the world. in europe, asia, emerging markets and here in the u.s. what i'd be doing is sitting on a well
FOX Business
Dec 19, 2012 3:00pm EST
. stocks rose out of the gate perhaps in the thoughts washington is moving closer to a budget deal. this time yesterday, that is what we had for you. the gains have disappeared. we have been down more than 67 points. the nasdaq losing seven here. s&p 500 down seven, but now we're off of that level everybody was talking about the last two days. the market was near the highs in the middle of the day. they put the timeline together for you. the president got in front of the cameras saying he would reject the spending and tax plan put together by speaker of the house john boehner. and by 45 minutes ago. he said he senses a ball is in the president's court adding he hopes the president will get serious about a balanced approach. all kinds of volatility with investors hanging on every word out of washington. general motors, take a look, turning on the afterburners, shares jumping as you can see more than 6%. repurchasing 200 million shares. gm need a bailout once the financial crisis hit. officially becoming a standalone company. market and investors really like now let's take a look at
FOX Business
Dec 11, 2012 3:00pm EST
the fiscal cliff, that is obvious. everybody is sitting back and waiting to see if washington can actually get something done. if political agendas can get it aside and think about the devastation that probably occurred with the fiscal cliff. the spring selling season begins in late january. we have been the bright spot in the economy. our industry are creating jobs, we're coming back in the early stages of a recovery so the fiscal cliff january 1 would have a huge impact on the country, and impact on our business, and we have our fingers crossed and are very hopeful washington can get something done and we'll have to see. but if they don't, there is no question there will be a little bit of time until things settle down when the buyers will hit the sidelines. liz: will it derail the tentative recovery here? >> right now we are three weeks away from this fiscal cliff date and we're still selling houses. i don't think it derails it, but there could be a pause until things get worked out. liz: part of it is being discussed, and that is the possible elimination or at least the cuttin
FOX Business
Dec 27, 2012 3:00pm EST
newscy. -- nyse. we had some bias coming in the last half hour. >> as long as washington keeps santa claus hostage we'll continue to see this. "the santa clause" rally hasn't appeared because it has been over this fiscal cliff. kudos on fox business for the headline of story coming out of washington congress will meet on sunday this coming weekend that. is definitely took us off our low. we had a major rally on that. 10 handles on the s.o.p.s we watched down here. it was a painful trade there for a couple of hours. ashley: ben, very quickly up until now the market hasn't really reacted to the fiscal cliff but seems today it really sort of kicked in. did the market get it wrong up to this point? >> the fear is we may have got it wrong. market as i've been saying for a while believes in fact we will have a resolution so we will not go over the cliff. the recent commentary maybe has been there will be a patch so we'll get it done by early january. the comments by mr. reid today. the ball was thrown into his court by mr. boehner who failed with his party, the expectation was mr. reid wou
FOX Business
Dec 28, 2012 3:00pm EST
, and count down to the closing bell starts now. we have breaking news from washington. rich edson at the white house where president obama is about to meet with key members of congress, and, rich, there's talk of a scaled down deal put forth by the president. what have you heard? >> it that is the discussion. you have harry reid, mitch mcconnell arriving at the white house, should have house leadership shortly to begin a meeting, a last ditch effort to try to help the economy avoid the fiscal cliff, or at least pieces of it, and, yes, the buzz around washington is a possible path forward that aids describe as preventing tax increase for income amounts of $400,000 or $500,000 or so, extend unemployment insurance, but, still, nothing has been agreed to. all in washington are waiting to see how this meeting goes. it's just about to start here in dc. meanwhile, on capital hill, the fighting continues, and in some corners, a sense of pessimism. >> if we don't have a deal within the next 24 hours, the question is where do you buy a parachute? we'll be going over the cliff because the cl
CNBC
Dec 28, 2012 4:00pm EST
for maria bartiromo. lots of drama in washington. congressional leaders have arrived at white house. they arrived there about an hour ago with three days to go before we go over that proverbial fiscal cliff. they are meeting with the president and the treasury secretary timothy geithner, and they are trying to hash out a deal. but reports that the president has nothing new on the table has ended up spooking wall street in a big way just in the last hour, and as bill said we finished down near the lows of the day, down about 157 points for the dow. settling up right now. down what, about 165 at the very low, bill? >> i think so, yes. >> and the nasdaq finishing down 25 points and the s&p off by 15, a fifth straight day in the red. well, it is the last friday of 2012. it's in the books. check. still no deal in sight and no new offer either on the table from the president as eamon javers told us a little while ago. what now for the markets? we have our guests and our very own rick sell sebak with us. rick, let me get to you, first of all, because you're here on the set. what now for th
CNBC
Dec 21, 2012 4:00pm EST
. welcome back to "the closing bell." the market down today. washington is not even close to reaching a deal to avoid the fiscal cliff. we had a triple digit decline today. here is how we're finishing the day on wall street. at the lows, dow was down 189 points. by the close, we came a fair amount of the way back from that sharp decline in the morning hours. volume very heavy today. that's how he saw a lot of shifting in the volume for the day. 1.2 billion shares here. nasdaq gave up that 29 points at the close and the s&p 500 down 13.25 points. five trading days left until the fiscal cliff deadline. seven days until congress is back in washington. raymond james says he's expecting the santa claus rally. jeff is with me now also dean from barclay's, peter anderson and our own rick santelli. jeff, how can this market rally when there's still so much uncertainty out there? >> i am surprised the market held up as well as it did today, maria. it had every reason to be down four or 500 points. historically, the week after christmas it's up about 70% of the time with a little over a percent g
FOX Business
Dec 24, 2012 12:00pm EST
washington. talks are on hold. no real progress in the negotiations. we will be checking in with peter barnes. investors have chosen to remain on the sidelines. first, to the markets. taking a look at where we stand. it is a holiday shortened session. trading and at 1:00 p.m. volume is like. the dow is up 44 points. the russell 2000 down four tenths of a percent. not a lot of movement. twenty-four of the 30 dow components are in the red. tech stocks, though, are the biggest drag. hewlett-packard is the worst performer on the down right now. microsoft is also, well, soft. similar story for research in motion. rim plunged 23% on concerns of its services and business. we approach the tail end of the holiday shopping season. home depot, by the way, solidly in the grain. one of the best performers on the dow this year. walmart just barely on the upside. costco slightly down. that gets you up to speed on the market and some of the stocks making moves. let's get right to the floor show. let's begin with ben willis. here we are, just in no wait and see mode as nothing, nothing is coming out of
CNBC
Dec 20, 2012 4:00pm EST
out. we see some money coming into this market. investors still hoping for a deal in washington to avoid the fiscal cliff. take a look at how we're settling on wall street. as we saw money moving into equities in the last 20 minutes pushing the dow jones industrial average up to 60 points higher at the close at 13,312 on the dow jones industrial average. nasdaq also finishing in the plus column with a gain of six points, and the s&p 500 up about eight points, one-half of 1% at 1433. closing in on the fiscal cliff deadline still with no deal in sight, let's find out how you should be investing in the face of the fiscal cliff fiasco. we want to dig deeper into the nyc/i.c.e. deal as well announced today, that it means for you and the global exchanges. gentlemen, welcome. thanks soechg for joining us. >> thanks. >> thanks for having me. >> let me kick this off with you in terms of the fiscal cliff. give me your strategy, deal or no deal? >> i think there will be a deal. this plan "b" that wehner has actually -- waiting to see if it actually makes it to the congress for a vote is actua
CNBC
Dec 31, 2012 4:00pm EST
out of washington as we speak. you just heard, by the way, the very last closing bell of 2012. coming up in the next hour, we're going to break it down for you. help you use that knowledge to navigate well in 2013. >>> here are the near-final figure y figures. one trader said to me we were lower friday because nobody wanted to go into the weekend long the market. now nobody wants to go short the market tonight in case they're able to get this deal done and vote on it in the next couple days. the dow at 13,106.98 to close out. the s&p up today. and a strong day for the nasdaq. up 2% right now at 3,019. >> certainly the market didn't seem to be particularly deterred by the news that john harwood just broke there, the fact it looks like no vote in the house tonight. which would mean technically we'd go over the cliff. but he still thinks a deal will be struck but just not tonight. 2012, check. it's in the books at least for the markets, that is. and while the clock keeps on ticking, no deal yet. what is an investor to do in the new year? >> edward pangin with us, james buckingham
FOX Business
Dec 31, 2012 3:00pm EST
there in washington d.c. the traders are on the floor watching moment by moment. the new york stock exchange, cme, and the nymex. you just heard the representative. we have to wait for the senate. we cannot do anything into the senate comes out. what i noticed was 12:30 p.m. eastern when it was announced the president was going to speak the markets took off. when the president spoke the moderated and now we're back up and running. what are you seeing and how important is it? >> first of all, let the volume. continues to be low. i think we are getting -- this morning we had a bit of a technical rally. a massive short-covering. people want to go home in case we do is some kind of a deal. liz: but looking at, for example, the nasdaq. this is a decent job of close to two percentage points. it looks like people are at least trading. there has to be that feeling positivity. >> the president was very a beat. he really did sound good, confident, and very hopeful that he could still get something done. i don't think so. skype think this is people covering shorts. in volumes like this don't f
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